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U.S. Dollar Index
Short

Daily DXY

28
The US Dollar Index (DXY) is currently indicating the likely direction after closing below 106.965. I anticipate a move back to the 107.200-250 range before continuing its bearish swing. Several confluences support this, including the reversal point, an ascending trendline, a descending trendline, a rejection candlestick, the daily 0.382 Fibonacci level, the 4-hour 0.5 Fibonacci level, and a 4-hour order block. My target for the DXY is 106.083. As for gold, it has reached a new all-time high of 2954.944. I expect a pullback before it heads higher, potentially towards the 3000 level.


4hr DXY Chart
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1hr DXY Chart
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30m Gold Chart
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ChartStrategist
Chart Patternsdollarindexdollarindex_setupDXYfibonnaccigoldpredictionTrend Analysistrendlineanalysis

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Chart Patternsdollarindexdollarindex_setupDXYfibonnaccigoldpredictionTrend Analysistrendlineanalysis
ChartStrategist

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.